I am buying a home in the Santa Barbara real estate market and want to understand the difference between list price, sales price and appraised value. Can you explain that?
There are defiantly key differences between the list price, sales price and appraised value. The list price is a seller’s advertised price and is only a rough estimate of what the seller wants to get. Sellers can price high, low or close to what they hope to get. To judge whether the list price is a fair one, be sure to consult comparable sales prices in the area. The sales price is the actual amount of money a buyer is paying for the property. The appraisal value is a certified appraiser’s estimate of the worth of a property, and is based on comparable sales, the condition of the property and numerous other factors.
